Dogecoin Eyes up $0.20 But will EverGrow Coin Get There First?

For cryptocurrencies like Dogecoin and EverGrow Coin, reaching a price of $1 is a psychological milestone that speaks of long-term success.

Dogecoin got extremely close to its goal last May when DOGE was worth $0.7376 but has since struggled to reach an equal price with the dollar. Reflection token EverGrow Coin also wants to grow in price from its current all-time high of $0.000003379. While it arguably has more distance to cover to reach $1, EverGrow Coin's roadmap is arguably the stronger of the two.

This is because Dogecoin must rely on a mixture of merchant adoption, media headlines, and popularity to reach its goal. Meanwhile, EverGrow Coin has a roadmap that makes reaching $1 just a matter of time.

Automatic coin burns could make EverGrow Coin a top 20 crypto token this year

EverGrow Coin launched only in September 2021, but its team of top developers and finance professionals has benefitted from the hindsight of watching Dogecoin's growth since 2013. They know the significance of a $1 valuation and have mechanisms in place to reach this goal – they call it buyback and burn (BB+B).

EverGrow Coin is a hyper-deflationary token that charges a 14% transaction tax on all $EGC buy/sell orders. A total of between 2-3% is set aside for strategic coin burns, which inflate the price of EverGrow Coin artificially and hence every month make sure the crypto token inches further towards its goal. 

As EverGrow Coin chairman Sam Kelly explained on Twitter last week, a jump to over $1 million in trading volume thanks to EGC's new DigiFinex listing led to over $35,000 collected for buyback and burn with hours. EverGrow Coin just saw one of its best trading days all year to hit over $3 million volume on April 17 – that's over $90,000 collected for coin burning in a single day.

With an ambitious roadmap that's close to launching key applications like an NFT marketplace, content subscription platform, exchange, wallet, and a metaverse experience, EverGrow Coin is likely to continue rocketing up in price throughout 2022.

Dogecoin payments at AMC theatres and potential Twitter role

Dogecoin's most famous backer by far is Elon Musk. The Tesla CEO has called Dogecoin his favourite crypto token, his Tweets have often led to $DOGE price rallies. Earlier in April Elon Musk was revealed as the largest Twitter stakeholder, and he later suggested that Dogecoin be used for payments and tips on the microblogging network.

Dogecoin surged to $0.17 following the news but has been unable this year to break past $0.20 in price. Dogecoin fell below this key figure in December last year and bulls have marked it as a key milestone for Dogecoin growth in 2022.

FXStreet analysts have predicted a rally to $0.20 to come soon but noted that prices have been stuck between $0.13 and $0.15. Robinhood CEO Vladimir Tenev recently suggested that Dogecoin could break past these support levels – but that the cryptocurrency needs to ramp up its transaction speeds soon to be able to have a chance of competing with the likes of Visa.

Conclusion: will EverGrow Coin outperform Dogecoin this 2022?

EverGrow Coin and Dogecoin represent two competing crypto camps vying for market dominance. Dogecoin seeks to be adopted as a major cryptocurrency used for transactions, while EverGrow Coin simply needs time for its innovative hyper-deflationary tokenomics to work for its investors. 

The roadmaps for each cryptocurrency are different, however, and the first one to hit $0.20 this 2022 could indicate speak of the future of Dogecoin and EverGrow Coin in the growing cryptocurrency industry.